The E.N.D. partnership has the following capital balances as of the end of the c

Question

The E.N.D. partnership has the following capital balances as of the end of the current year:

630,000

Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $345,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners? (Do not round your intermediate calculations. Round your final answers to the nearest dollar amounts.)

Just need the capital balances please!!!!!

  Pineda $ 180,000   Adams 160,000   Fergie 150,000   Gomez 140,000       Total capital $

630,000

Explanation / Answer

Total Capital 630000 Paid to Pineda 345000 Balance 285000 Adams Capital 285000*3/6 142500 Fergie Capital 285000*2/6 95000 Gomez Capital 285000*1/6 47500

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